Top Bahrain banks back US reception

Manama, June 30, 2011

Bahrain-based BMI Bank, a retail and commercial banking institution, and Gulf International Bank (GIB) will sponsor the Banks in Bahrain reception at the 2011 International Monetary Fund/World Bank Conference in Washington.

The reception will be held on September 24.

The event, hosted by the Bahrain Association of Banks (BAB) will be attended by BMI Bank chief executive Jamal Al Hazeem along with a Bahraini delegation of prominent executives from government and private sectors.

"Bahrain has been strengthening its reputation as the financial hub of the Middle East over the past few years," Al Hazeem said.

"Its financial services sector is the most transparent and best regulated within the GCC as evidenced by the large number of financial services firms present within the country, the contribution of the sector to the economy and more importantly its resilience in the wake of the recent global financial crisis.

"The BAB represents the interests of the banking sector with the regulator and other third-parties and is also tasked with promoting Bahrain to other regional banking centres looking to do business here," he said.

"Being a responsible local bank, we actively support initiatives and events that further enhance both our position as a strong Bahraini retail and commercial banking institution as well as that of the country and are proud to renew our support of the Banks in Bahrain reception in Washington for the second consecutive year," he added.

Dr Yahya Al Yahya, chief executive of GIB, a leading bank in the Middle East, said: “The bank provides client-led, innovative financial products and services to a wide customer base in the region.”

"This is an important time for Bahrain's banking and the financial sector to promote itself abroad and this will be an ideal occasion to do so," Bahrain Association of Banks chief executive officer Robert Ainey said.

"Last year's event was a great success with more than 400 guests attending the reception, including ministers of finance, central bank governors, chairmen and chief executives of major banking groups, diplomats, businessmen and the media," he added. – TradeArabia News Service